What You Missed in the News This Week

The Federal Government has prevented Chinese company Yuxiao Fund from raising its stake in Northern Minerals on grounds of national interest.

Yuxiao Fund wanted to increase its holding from 9.92% to 19.9% but needed approval from the Foreign Investment Review Board.

Northern Minerals has been focused on fine-tuning its heavy rare earths processing system through a pilot plant, which could make the Western Australia-based miner one world’s first significant heavy rare earth producer outside of China.


Northern Minerals


The Department of Water and Environmental Regulation has ordered Alcoa to clean out the toxic pipeline it built over Samson Dam in Waroona without approval.

The US based company had already built the pipeline to move firefighting PFAS contaminated water over the dam before even applying for approval.

DWER found the pipeline did not meet the requirements to prevent leaks and its location made it at risk of damage by vehicles.

This news is the latest in a series of potentially disastrous environmental blunders by Alcoa: earlier in the week the WA Forest Alliance called in the WA Environment Protection Authority to review Alcoa’s plans to mine jarrah forests after fear their mines will endanger Perth’s water supply and last week the state government expressed concerns Alcoa mines posed a risk to 1/3 of Perth’s drinking water in Serpentine Dam.

Forest Alliance convenor Jess Beckerling said the risks from Alcoa’s mining warranted a full and transparent assessment of its cumulative impact.

“This is obviously a matter of major public concern,” she said.

“The expectation must be that current best-practice WA government policy and aspirations are applied and maintained, and that the safety of drinking water and the integrity of ecological function is protected.”


Anon via WA Today


Austral Gold has completed the sale of its Pinguino project to E2 Minerals, receiving $3.7M on Tuesday, with another $3.7M over the next 3 years.

Austral Gold’s CEO Stabro Kasaneva said “The transaction resulted in the immediate cash injection of US$2.5M to partially fund the development of the Heap Reprocessing project at our flagship Guanaco-Amancaya mine complex in Chile.”


Austral Gold


Enegex has entered into a sale agreement with Caravel Minerals to sell them a tenement of Walebing Project.

Tenement E70/5442’s 82.4km2 are located 122km northeast of Perth.

Enegex will retain 100% ownership of the remaining 3 tenements at the site.

Enegex Director, Rae Clark, said they are excited the transaction will “provide Enegex with exposure to Caravel’s exploration expertise through a royalty agreement.”



The S&P/ASX200 markets had a positive week, finishing at 7,284 points, 0.39% higher than Thursday. The top performing stocks were Liontown Resources, up 13.19%, and Ramelius Resources, up 5.58%.

Liontown was also the top performing stock in the All Ordinaries, the markets finished at 7,484 points.



Gold has made a swift recovery after a disappointing end to February. The week started at February’s lowest of $1,812.73USD before steadily climbing to $1,850.38USD.

Silver peaked on Wednesday at $21.35, stumbling on Thursday before recovering on Friday to $21.31.

What You Missed in the New this Week

Surbiton Associates has announced Australian gold production for the September 22 quarter is down 9% from the June 22 quarter.

The September quarter saw 76 tonnes compared to the 83 tonnes from the June quarter.

Surbiton Associates director, Dr Sandra Close said gold production for the quarter is somewhat disappointing and stated “some wet weather and Covid-19 problems affected output adversely” but is confident these effects are slowly receding.

Gold Fields has awarded their Barren Lands open pit project to establish a new mine at their Agnew Gold Mine, 150km Northwest of Leonora to MLG Oz.

The project will run alongside their current St Ives cooperation.

MLG founder and managing director Murray Leahy said “we are very proud to continue to support Gold Fields at their St Ives and Agnew operations extending what has, and continues to be, a long and rewarding relationship.”

Metal Hawk Limited has announced diamond drilling at their Berehaven Nickel Project has commenced.

The project, located 20km Southeast of Kalgoorlie Boulder, continued after high grade nickel sulphide was discovered in the area last year.

Minerals Resources is offering starting salaries of over $140,000 to New Zealanders in an entice them to Perth. The campaign is set to see several hundred New Zealanders over the next 6 months.



The S&P/ASX200 stumbled slightly on Monday before recovering to start the month on a high of 7,372 points yesterday. The markets finished off the week on 7,302 points, dropping 0.72% from yesterday.

The All Ordinaries peaked at 7,572 points yesterday, finishing at 7,504 points today.



Gold was relatively stable at the start of the week, before picking up on Wednesday to finish the week at the biggest high since August at $1,802.25USD/oz.

Silver followed suit, starting stable before reaching the biggest high since June at $233.04USD/oz.

Karora Posts Strong First Quarter

Higginsville Mill

Canadian miner Karora Resources posted a positive start to the first quarter based on their Higginsville Mining Centre and Kambalda Beta Hunt operations. Announced to the market late Friday night Western Australia time, Karora posted gold production of 24,694 ounces and gold sales of 25,547 ounces. While Karora nickel production is currently limited to remnant nickel resources south of the Alpha Fault at Beta Hunt. However there has been positivity to future nickel production with 30C Nickel Trough discovery and Gamma Zone – 50C”, where 11.6% nickel over 4.6 metres, including 18.4% nickel over 2.2 metres was intersected

Chairman and CEO Paul Andre Huet who recently relocated to Australia from Canada said “I am pleased with Karora’s first quarter performance, which places us on a very strong footing to achieve our full year 2021 gold production guidance of between 105,000 and 115,000 ounces and AISC of US$985$1,085 per ounce sold. First quarter gold production of just under 25,000 ounces was right on budget as we prepared new higher grade mining areas at Higginsville Central. Over the course of 2021, as we have previously stated, we expect quarterly grade improvements resulting from Spargos and Two Boys to drive increased production towards the second half of the year.” he said.

Beta Hunt production is to be increased with a staged fleet replacement and upgrade program, including the addition of a CAT R2900 underground loader and two CAT AD60 trucks into the mining fleet. With expansion planned for 2021.The first of these two new trucks recently hauled its first load of ore at Beta Hunt in May.

At Higginsville, The Two Boys mine dewatering and exploratory work was significantly advanced during the first quarter of 2021. Mining is on track to commence as planned in the second quarter of 2021. Alongside this there are further developments at Baloo in terms of optimisation and mining focus directed towards Hidden Secret.

Higginsville Mill at Sunrise

Mr Huet also elaborated on expansion at Higginsville “I am extremely happy to announce that our Phase I mill expansion is proceeding well ahead of schedule. We have already achieved an annualised production rate of 1.5 million tonnes per annum. Once completed, as previously announced, the Phase I expansion will increase production capacity at our Higginsville mill in 2021 by approximately 15%, or 550 tonnes per day, to 1.6 million tonnes per annum from the prior capacity of 1.4 million tonnes per annum.”

Karora closed the day down $3.82 from an open of $4.08 on trade on the TSX.

New Nickel Discovery At Kambalda’s Beta Hunt Mine

Beta Hunt Mine

A new high grade nickel discovery has occurred at Karora Resources Beta Hunt Mine at Kambalda in Western Australia. Named the 50C Nickel Trough, the discovery is the second new nickel discovery at the mine in the last six months and compliments an increasing gold system at the mine.

Beta Hunt Mine
An underground truck heads out of the Beta Hunt Portal

With a key nickel intersection of 11.6% Ni over 4.6 metres, including 18.4% Ni over 2.2 metres, the 50C Nickel Trough has the potential to repeat the Beta zone which has delivered over 32,000 tonnes of nickel to date.  While the results for nickel have been quite promising, the drilling for nickel also intersected gold. In the key nickel intersection above, a gold intersection included 5.2 g/t Au over 3.2 metres. However the highlight of gold intersects included 2.7g/t Au over 12.0 meters, including 10.1g/t Au over 1.4 metre. The recent gold drilling has also indicated extensions to the known gold mineralised system at Beta Hunt to be over 3.5km along strike.

Paul Huet, Chairman and CEO of Karora said, “I am very excited with the latest set of drill results from Beta Hunt, which continues to return outstanding intersections and now a second new nickel discovery, all within close proximity to existing mine development. While we are focused on gold production as our core strategy, the potential by-product credits from these nickel grades, as high as 18%, are undoubtedly substantial. While our drilling in the 50C discovery area was aimed at nickel targets, our efforts also returned some meaningful gold assays including 5.2 g/t over 3.2 metres in hole G50-22-005E. These gold results demonstrate yet another potential area to add to the growing gold resource at Beta Hunt in the near term and have extended the strike extent of Beta Hunt gold mineralisation to 3.5 kilometres from 3.1 kilometres previously.”




Savannah Set To Restart – Letters of Intent Placed

Savannah Nickel Mine

Hot on the heels of the Cassini mine opening near Kambalda recently, another Western Australian nickel project is making the move this morning – Panoramic Resources Savannah Nickel Project in the East KimberleyPanoramic is preparing with the restart of mining from August 2021 and the first shipment of concentrate earmarked for December. A 12-year mine life with an average annual production target of 9,072t nickel, 4,683t copper, and 676t cobalt in concentrate is earmarked.  

Savannah Nickel Mine
Savannah Nickel Mine – Pic Supplied

The Savannah Nickel Project has had quite a busy 12 months since April 2020 and has resulted in a more optimised project moving forward. Panoramic Managing Director and CEO Victor Rajasooriar said 

“It is pleasing to see that Savannah, one of the most advanced nickel sulphide development assets in Australia, is forecast to come into production as the battery thematic continues to grow worldwide. We learnt many lessons in the lead up to the temporary suspension of operations at Savannah in April 2020, amid the onset of the COVID-19 pandemic. Since that time, we have recapitalised the business and undertaken a range of planning and site-based initiatives to put the operation in a much stronger position for the restart. This process of optimisation combined with the improved outlook for Savannah’s high-quality nickel, copper and cobalt products, has given the Board confidence in approving the restart with a target of the first shipment from Wyndham Port by the end of 2021.  I would like to thank our staff, contractors, local stakeholders, and shareholders for being patient as we de-risked the project over the past 12 months, enabling Savannah to now be well-positioned for future success.” 

As part of the announcement this morning, Panoramic also has announced it has engaged with Letter of Intents with two contractors – Perenti’s Barminco for underground mining and NRW subsidiary Primero, for its operations and maintenance contracts.  

Under the contract with Barminco, it is intended that Barminco will provide all underground mine development and production works with mobilisation expected in July 2021. While Primero will operate and maintain the processing and surface infrastructure facilities at the Savannah nickel mine for an initial term of three years, with an option to extend an additional two years.  

Perenti Managing Director and Chief Executive Officer Mark Norwell said: “We are very pleased Panoramic has elected to restart the Savannah Nickel Project and we look forward to finalising the contract details for Perenti to support the recommencement of operations at this long-life project. while NRW CEO Jules Pemberton said, “This agreement further strengthens the annuity revenue stream that our Minerals, Energy and Technology division has been building through its various businesses. RCR and its product support and maintenance business, DIAB through its shutdown and maintenance activities and now this significant award to Primero for a three year plus two-year option delivering operations and maintenance services to the Savannah Nickel Project”. 

Top Story – Bill Beament Leaves Northern Star In July.

Northern Star Resources Limited has provided an update. In their efforts to initiate a global search for an Independent NonExecutive Chair, Bill Beament will retire from the Northern Star Board, effective July 1, 2021. Mr Beament has agreed to take up an Executive Director role with Venturex Resources from July 1. Mr Beament said he fully appreciated the opportunity to help Northern Star generate exceptional results for all stakeholders. “I share the view that now is the right time for Northern Star to begin the search for an Independent Chair,” he said. “The Company is in an extremely strong position, with an outstanding team and some of the best gold assets in the world.”

Northern Star Non-Executive Director John Fitzgerald thanked Mr Beament for his outstanding contribution. “Bill has guided Northern Star through a period of exceptional growth, building a globally-significant gold company which generates substantial returns for Shareholders,” Mr Fitzgerald said.

The Northern Star Board has decided that Independent Non-Executive Director John Fitzgerald will perform the role of Independent Non-Executive Chair from then until the appointment of the new Chair.

Diggers & Dealers Keynote Speaker Announced for 2021


A former advisor to President Nelson Mandela, a key author of twenty one books and a previous Principal Economist at the EBRD (European Bank for Reconstruction and Development) has been announced as the Diggers and Dealers key note speaker for 2021. Professor Ian Goldin.

Professor Goldin specialises in economics and has numerous credentials on the world economic stage. After a start in Africa, Professor Goldin lectures at Oxford, Harvard and Tsinghua Universities as well as providing advisory and consultancy services to thirty leading companies. His recent speaking engagements include the opening keynote at Google Zeitgeist, the Microsoft CEO Forum and TED. For the past twenty one years he has provided keynotes at the World Economic Forum meetings in Davos. Adding to an impressive list of achievements, Professor Goldin also was a previous Vice President of the World Bank. His address at Diggers and Dealers this year is sure to be thought provoking and insightful.

BREAKING: KCGM Owners Make Joint Announcement

KCGM Super Pit Owners Northern Star Resources and Saracen Minerals have released information to the market this morning about their respective operations based on the lockdown imposed in Western Australia.
Saracen Mineral Holdings Limited and Northern Star Resources advises that it does not expect production and exploration at its West Australian operations to be impacted by the five-day lockdown measures announced yesterday by WA Premier Mark McGowan. All the Company’s operations are located outside the lockdown boundaries set by the Government. The Company will advise the market should these circumstances change. Saracen’s top priority at all times is the health and safety of its staff, business partners and the communities in which we operate and this is the basis of all its strategies for managing COVID-19.

Morning News Bites – November 6

Gold and the US Election.

It would seem the gold market has factored in a win to Biden in the US elections with the price of gold rising by about US$40 in overnight trade (Australian time).  The Aussie dollar has risen against the greenback to ~US72.6c, which gives an Aussie gold price of ~$2,680.

As I type this Trump is giving a media briefing at the White House where he is claiming that the election has been rigged.  He claims it has been stolen from him by fraud.  This would seem to flag that more court challengers are on their way if, as expected on current count, Biden wins the required 270 Electoral College votes.

The Dow Jones Index also had a good day and rose 542 points indicating that it is not only the gold market looking upon the expected result favourably.  Given that Trump is sure to litigate in his quest to maintain office it will be interesting to see how all markets react to it over the coming weeks

Venture Reports on Results from Golden Grove North.

Venture Minerals (ASX: VMS) has released results from the first drill hole at Orcus which has intersected 33 metres of disseminated to semi-massive sulphides with Copper and Zinc at the Company’s highest priority VMS Drill Target at Golden Grove North. The sulphide intersection sits predominately within a chlorite-sericite altered sequence of foliated mafic volcanic which is a potential host for VMS style mineralisation.

Venture’s Managing Director commented “The first drill hole at Orcus has had immediate success with a strong intersection of sulphides containing Copper and Zinc. Venture eagerly awaits the assays to confirm the highly likely addition of both gold and potential silver mineralisation as it moves onto the next drill holes at Orcus, the Company’s highest priority VMS target at Golden Grove North.”

Venture has completed a visual inspection and preliminary hand-held XRF analyses on the RC chips and has verified the presence of copper and zinc within the pyrite dominated sulphides. Samples are being prepared for submitting to a laboratory for assay to confirm the observed mineralisation. X

The company claims the Orcus prospect already boasts a VMS style drill intersection of 22m @ 0.76 g/t Gold, 0.64% Copper & 1.3% Zinc from 38m to bottom of hole, including 10m @ 1.0g/t Gold, 0.74% Copper & 2.1% Zinc from 50m to bottom of hole, that sits on trend between the two recently delineated high priority VMS drill targets of Vulcan North and Vulcan West.

VRX Silica gets Aboriginal Heritage Nod.

VRX Silica (ASX: VRX) has announced the results of an Aboriginal heritage survey at its Arrowsmith North Silica Sand Project (Arrowsmith North) and Arrowsmith Central Silica Sand Project (Arrowsmith Central), located approximately 270km north of Perth, Western Australia.

The comprehensive archaeological and ethnographic survey was conducted last month with Amangu representatives of the Yamatji Nation and Yamatji Marlpa Aboriginal Corporation (YMAC) personnel over proposed initial mining and critical infrastructure areas.

Preliminary advice received by the Company from YMAC confirms that the Arrowsmith North Access Road, Services Corridor and Production Area are clear for the stated works to proceed for 10 years of production. The Arrowsmith Central Production Area and Arrowsmith Central Infrastructure Areas are cleared for 5 years of production.

VRX’s Managing Director Bruce Maluish said: “With the grant of Mining Leases for Arrowsmith North and Arrowsmith Central expected imminently, obtaining Aboriginal heritage clearance for our proposed works on both projects is an important step forward for their development.

“This continues our strong and supportive relationship and consultative approach with the local Yamatji Nation people and YMAC. We appreciate their efforts in progressing the conduct of the survey and report.”

Eagle Mountain Reports High-Grade Assays.

Eagle Mountain Mining (ASX: EM2) confirmed high grade assays from initial drilling at the Company’s 80% owned Oracle Ridge Mine Project in Arizona, USA.

Eagle Mountain’s intends to build a low-cost mining operation, which involves increasing the resource base both within the current mine area and in the near-mine vicinity. A surface diamond drilling program commenced at Oracle Ridge in early September 2020, designed primarily to target extensions of the high-grade portions of the existing NI43-101 Minerals Resources Estimate.

Assays results from holes WT-20-03 (upper part only) and WT-20-04 (selected zones) have been received and are reported as:  4.56m at 5.28% Cu, 50.7 g/t Ag and 0.77g/t Au from 184m, including 0.93m at 13.05% Cu, 127g/t Ag and 0.32g/t Au

Higher priority sections from four further drill holes have been submitted to the laboratory with assay results from three holes due in November 2020

Eagle Mountain Mining CEO, Tim Mason, commented: “This is an excellent start to our drill program at Oracle Ridge, which targeted zones outside the existing Mineral Resource Estimate (MRE). The intercept of 4.56m at 5.28% Cu, 50.7 g/t Ag and 0.77g/t Au, including 0.93m at 13.05% copper and 127g/t silver is outstanding. The mineralisation in this zone is unconstrained for approximately 100m to the east, with follow up drilling planned to test extensions in this area.

Our goal is to build on the significant high-grade copper MRE, to support a potential future mining operation, with these assay results reinforcing our view that there is significant mineralisation outside the existing MRE at the Project. The drilling program has been extended to the end of CY2020, and we look forward to updating the market with further results over the coming months.”

Lucapa Raise $10 Million to Expand Processing Capacity.

Lucapa Diamond (ASX: LOM) has received firm commitments from professional and sophisticated investors to subscribe for 181,818,182 fully paid new ordinary shares in the Company at an issue price of $0.055 per share to raise $10 million before costs. The Placement involved the issue of 54,824,075 free attaching unlisted $0.08 options, expiring 2 years from the date of issue.

The oversubscribed capital raising, was cornerstoned by Ilwella Pty Ltd, a diversified investment vehicle of the Flannery family office and by Safdico International, a leading multinational diamond company and subsidiary of Graff International. The Company also welcomed new institutional investors to the register.

Lucapa intends to use the funds from the Placement to commission an expansion in the processing capacity of the Mothae kimberlite mine from 1.1Mtpa to 1.6Mtpa (+45%). This should materially increase production, revenues and due to economies of scale, improve unit operating costs and deliver improvements to earnings. The investment in Mothae is expected to cost $8.5 million, with the balance of the funds raised, net of costs, to be utilised for general working capital purposes.

Managing director Stephen Wetherall commented; “We are extremely pleased with the strong support shown by strategic and institutional investors in the value accretive expansion plan formulated by Lucapa and the Government of the Kingdom of Lesotho, our Mothae partner”.

“The Mothae expansion should see a material increase in the benefits derived by the Basotho nation and to our shareholders”.


Morning News Bites – November 5

Wiluna Mining Increase Mineral Resource.

Wiluna Mining Corporation (ASX: WMX)has reported an increase to the Mineral Resource for the Wiluna Mining Centre, as part of the Company’s ongoing Sulphide Development plan.

Wiluna reported a 4.24Moz @ 4.89 g/t High Grafe Mineral Resource at the Wiluna Mining Centre, which is 11% more than reported in September, and 8.04Moz @ 1.63 g/t total mineral resource for the company.

Mining studies will be conducted to assess various mining options ranging from selective high-grade underground mining to bulk open pit and underground mining, or a combination of methods.

Wiluna Mining Executive Chair, Milan Jerkovic, commented:  “Our ongoing $30 million drilling campaign has focused on high-grade areas with the potential to be mined at the start of our Sulphide Development schedule. Drilling has successfully added tonnes, improved the grade and improved the portion within Measured and Indicated confidence categories. We are delighted by these results because they build upon our strategy to enhance the very large, high-grade Wiluna Mineral Resource. Drilling has been supported by our teams diligent efforts to extract maximum value from the large amount of existing historical drilling and mining data, including assaying of intervals of mineralisation from the historical core library which comprises over 800km of core. These efforts have contributed to the impressive growth in our Mineral Resource base.

Investigator’s Paris Silver Project Yields High Grades.

Investigator Resources (ASX: IVR) announced that the Paris Silver Project is the highest-grade undeveloped primary silver project in Australia. With a JORC 2012 resource of 9.3 Mt @ 139g/t Ag and 0.6% Pb for 42 Moz contained silver and 55 kt contained lead, Paris is a shallow, high-grade silver deposit amenable to open pit mining.

Investigator’s Managing Director, Andrew McIlwain said: “We believe these initial and preliminary results support our objective with this infill campaign of improving both the grade and confidence in the estimated resource.

Drilling started on Line 8, at the northern edge of the 200m Zone” Indicated Resource block, and results from the 9 holes drilled in Lines 8 and 8.25, are expected to extend the Indicated Resource to the north. With some eyewatering grades seen in these early results, it bodes well for an increase in the average resource grade in this area”.

These initial and incomplete results from only 9 holes, of a program total of 276, along with the geological logging of the drilling to date, augurs well for the success of this program. This has provided the confidence for the Board to approve an additional 5,500m of drilling to further improve the Paris resource.

We will have assays coming through on a regular basis over the next few months and look forward to providing further updates on results”.

AusQuest Completes Initial Reconnaissance Results

AusQuest Limited (ASX: AQD) advised the market that the initial reconnaissance drilling program has been completed at the Gunanya Project in the Paterson Province of Western Australia under its Strategic Alliance Agreement with South32.

A total of seven Reverse Circulation drill holes (totalling 1,916m) spaced 200m apart across each anomaly were completed to test three magnetic targets in order to determine their potential to host gold and copper mineralisation similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest), located in the northern half of the Paterson Province.

Drill samples were collected at two metre intervals from each drill-hole and sent to Perth for analysis. Assay results are expected within three to four weeks, at which time an assessment of the drilling results will be undertaken.

AusQuest Managing Director Graeme Drew said the Company was pleased to have successfully completed initial reconnaissance drilling of the Gunanya targets even though not all the magnetic targets had been properly tested.

We have seen signs of alteration and sulphide mineralisation, albeit pyrite, in both the basement lithologies and the overlying sediments,” he said. but assays are required before any proper assessment of the drilling results can be made.”

Final assay data should be available over the next 3-4 weeks and we look forward to reporting on the final results once we have had time to analyse the data” he continued.

Yandal Resource Estimate for Flushing Meadows.

Yandal Resources Ltd (ASX: YRL) released an updated Mineral Resource Estimate for the Flushing Meadows gold deposit, part of its 100% owned Ironstone Well gold project near Wiluna in the Yandal Greenstone Belt of Western Australia.

The prospect is located 60km south- west of the mining town of Wiluna in close proximity to a number of gold development projects and operating mines.  The estimate contains a total 7.4Mt @ 1.13g/t Au for 268,000oz and utilised sample data from 420 RC drill holes and four diamond drill holes.

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

Compared to the 2019 Mineral Resource Estimate the new estimate has a 60% increase in tonnage and a 12% reduction in grade for an overall 40% increase in total contained ounces. Importantly the new estimate has a 109% increase in material reporting to the higher confidence Indicated Resource category and the bulk of the mineralisation is located above 100m vertical depth.

The mineralisation remains open at depth and there are high priority exploration targets along strike and in adjacent positions that are being drilled currently. The Company plans to aggressively pursue Resource growth over the next two years with a large proportion of the exploration budget directed within a 10km radius of Flushing Meadows including the Oblique and Quarter Moon prospects where significant historic mineralisation occurs.

The Company has a dual strategy to prepare our most advanced prospects ready for mining whilst pursuing exploration targets capable of hosting multi-million ounce gold deposits known to occur in areas close to our projects”.

US Election and Gold.

It would seem the price of gold is fluctuating slightly as the fortunes of both candidates change throughout the vote count.  Some analysts believe that a Biden win will be good for the gold price and conversely Trump winning would see downward pressure on the metal price.

At the moment, with Biden looking set to win the election we could see gold remain above the US$1,900 and move toward the $US$2,000 mark again.

Gold has remained fairly stable compared to the last US election when it became obvious that Trump would win and gold soared by about US$150 , but only briefly.